Been a long time since the last Community Funds update, happy to tell you guys/girl that we do still have a Community Fund, and haven't spent it all on Lambos
The current balances of the 2 remaining CFC accounts are:Constitution
(main spending account, under Account Control: EvilDave/ChuckOne/Damelon)https://www.mynxt.info/account/NXT-ZCLD-5TVW-HHAN-FVEJC
1,153,458 ARDRCFC Reserve Account
(held by neer.g)https://www.mynxt.info/account/NXT-CQ7X-95HR-RLW5-3UQ46
there are a couple of other CFC-related accounts, holding a selection of assets, but not a very large amount.
As has been discussed elsewhere, we are working on re-organisation of both the Nxt Foundation and other community assets, including the CFC.
From 2014 up until the end of 2016, the Community Funds have been set aside and used for payments to the core developer team.
Now that the core devs have created a company to handle the IP rights for them, Jelurida B.V., the Community Funds no longer has to pay Nxt/Ardor core developers, though we will still have to pay for some external dev work on both the Nxt and Ardor public blockchains.
This frees up the Community funds to be used to support other Nxt/Ardor projects, and (after a lot of discussion between the CFC, Foundation and Jelurida ) we all think that the best way forward would be to allow the Nxt Foundation access to the Community Funds, to fund work/projects that will benefit the entire Nxt/Ardor community.
Up until now, the Foundation has been self-financing, and will continue to be so for as much as possible. However, having access to the Community Funds will allow the Foundation to concentrate on expanding it's marketing, promotion and business development activities.
The Nxt veterans among you will remember that there is a certain overlap between the Foundation and the Community Funds Committee: the CFC is myself (EvilDave), Damelon and ChuckOne, while the Foundation is currently myself, Damelon, Marenkar, LocoMB and alex0909. It has been tricky at times to keep the two functions separate, but I think we've done an OK job, so far.
Our proposal will not change the current set-up for holding and managing the Community Funds, just allow the Foundation to make direct use of the funds.
I think that this is a logical step forward for Nxt and Ardor, but we'd like to hear any objections, questions or feedback from the community....what do you lot think ?